STOP SCROLLING. THIS IS THE DEAL YOUVE BEEN WAITING FOR. BUILD WORKFORCE HOUSING FOR FARM WORKERS ON THIS AGRICULTURAL LAND. 5 prime flat acres in Silicon Valley with direct frontage on US-101. Approximately 400,000 +/- cars pass this site every day. Most people see agricultural land. This is an income-producing… Read More asset. CA Governor signed new laws for work force housing on agriculture land. Here is the math: THE FINANCING: 1.0% fixed interest through USDA Section 514/516. This program provides low-cost capital for workforce housing development. THE SPEED: Under the California Employee Housing Act (AB 3035), this qualifies for by-right approval. Timeline is approximately 30-60 days to place modular units on-site. THE CASH FLOW:12 units at projected 2026 fair market rents generates $48,000 per month for 2 bedroom units, or nearly $300,000 annually in net cash flow. Immediate income: Develop 12 to 150 units of farmworker housing using subsidized 1% financing. The project is on schedule for a 100W three-phase power connection. The property is fully fenced. A new 300-foot agricultural well has been installed, producing approximately 200 gallons per minute & nursery license. Buyers should conduct full due diligence with new state laws and county. Buyer can farm it too. Read Less
Courtesy of Legacy Real Estate & Associates, Grail Nitsch 650-772-1519
Listing Snapshot
Days Online
329
Last Updated
Property Type
Agriculture/Ranch Land
Lot Size
5 Acres
MLS Number
ML82018888
30 Days Snapshot Of 95020
$1.24M
-8%
(avg) sold price
32
-5%
homes sold
33
+57%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 217800.00, Max Area Units: Square Feet, 5 lot acres, Agricultural Use, Farm Animals (Permitted), Grade - Level, Possible Lot Split, Views, Vineyard
Property Access
Accessible, City Street, Highway, Other Road Frontage, Paved Road, State Road
Property
Zoning: A20AC, Present use: Agricultural, Farm, Farm/Ranch, View: Hills, Soil: Class 1, Class 2, Loam, Mineral rights: Yes, Horse property, Fenced, Pasture
Fence
Fenced
Water Features
Well
Utilities
Electricity - On Site, Public Utilities
Sewer
Other
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